NSW Ashmont (Wagga Wagga)

Makes Albury sound very attractive to me now...where regional is concerned.

 

What do people pay for PM in this area?
15% sound right for their troubles?

 

I don't pay any more than the standard rate in Wagga. Think it's around 9pc

 

Kinda related to this thread
‘Tick of approval’: Wagga makes global housing affordability list

 

Can anybody woth acess to rpdata print out say last 6 months sales results for ashmont and tolland ( the dodgy areas)

The good agents market at realistix prices

While the seasonal ones put some stupid prices on them

 

I just signed for 15% management fees. Works out to be around 20% all up.
I chose that PM because of the sales agent I want to use.
I hope to get a decent tenant for the area and list it in a couple months.
I should come out slightly positive after selling costs.
Then will sow in better soil.

 

i hope its not wagga property management!?!?!

 

Well it seems there still plenty of properties for sale in the areas of Tolland and Ashmont.
Great for first time investors !!

Just noticed a few for 100k !!

 

I couldn't find any for 100k. The cheapest house was 110k, and then the rest were listed above 120k.

 

Good luck with your IP, i guess 20% Management fee is not much considering the area and how hard your PM works.

I bought in Tolland in 2003 a 2 bedroom unit for 43k and sold in 2005 for 63k., in Joyes place.
But it seems prices havent gone up much since then.

But i guess Wagga is still an area worth considering guys !

Whether you want to invest in the suburbs of Ashmont is another thing though.

 

Ashmont is terrible. Ashmont, Rolland, mount Austin and some parts of kooringal (Ziegler Av, tichbourne crst) are all super scummy. North Wagga flooded bad a few years ago so that could be a risk.
A lot of people like glenfeild park, but that is smack bang in between ashmont and tolland and also has a high crime rate. If you can stay away from those areas, if should be fine! Wagga has a great UNI, heaps of shops and businesses, new hospital, army base, regional airport, it's a great place and a lot of the small rural areas surrounding it rely on the businesses. I'm located in Tumut (we don't have a lot apart from visy and timber mills), approx 1.5 hrs from Wagga.
Locals here will say invest in adelong (15 mins from Tumut on the way to Wagga) it's famous for its history of gold, there has been a new gold mine site in adelong opened with investors pouring in money to the company in hope gold is stuck, but it hasn't boomed yet Prices haven't seemed to increase but everyone in Adelong is waiting for it!

 

I bought in Ashmont 2 years ago and have no regrets.
The place is cf positive and doesnt give me any trouble.
Just stay to the east of Lae Avenue

 

Our Wagga IP is in Turvey Park. had it coming on 2 years. Paid $220k spent about 20k on a reno so it owes us around 255k. Had the same tenant from day 1, now paying $365pw.

Hasn't increased significantly in value, probably worth around $285k

 

ive noticed a few of these new dwellings

16 Veale Street Ashmont NSW 2650 - House for Sale #122635038 - realestate.com.au

this street is a decent distance away from the bad streets
but surely this a good sign of gentrification, I mean new properties will have better tenants and this should spread slowly?

what do people think????

agents/police and locals still say they dont see any chance of improvement in the future, however these people might be too central and involved to see things objectively?

 

6 Blakemore Avenue Wagga Wagga NSW 2650 - House for Sale #123457346 - realestate.com.au

are new dwellings the sign of gentrifiation and cleaning up?

obviously the area wont be worth $1m for another 100 yrs but if it cleans up...

or am I dreaming